www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Brent surges, closing above $61 http://www.upstreamonline.com/live/1387242/Brent-surges-closing-above-61 Oil closed up as much as 5% on Friday, its biggest gain in over two years, as some traders took profits on short positions after prices this week hit their lowest since 2009. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387242/Brent-surges-closing-above-61 Sat, 20 Dec 2014 00:11:11 +0000 live Cuba's new era could extend to oil http://www.upstreamonline.com/live/1387238/Cubas-new-era-could-extend-to-oil A historic rapprochement between the presidents of US and Cuba this week could help pave the way for renewed interest in the island nation’s nascent oil sector, sources tell Upstream. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387238/Cubas-new-era-could-extend-to-oil Fri, 19 Dec 2014 23:14:06 +0000 live Canada slaps sanctions on Russia industry http://www.upstreamonline.com/live/1387239/Canada-slaps-sanctions-on-Russia-industry Canada announced new sanctions against Russia on Friday, including additional restrictions on the export of technology used in the oil and gas industry, saying it was important to speak truth to power. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387239/Canada-slaps-sanctions-on-Russia-industry Fri, 19 Dec 2014 23:07:23 +0000 live US loses 18 rigs amid crude drop http://www.upstreamonline.com/live/1387226/US-loses-18-rigs-amid-crude-drop The count of rigs drilling for oil and gas in the US was down by 18 this week to 1875 as the industry saw oil prices extend their rout. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387226/US-loses-18-rigs-amid-crude-drop Fri, 19 Dec 2014 20:34:36 +0000 live Colombia's FARC declares ceasefire http://www.upstreamonline.com/live/1387224/Colombias-FARC-declares-ceasefire Colombia on Thursday welcomed an offer by Marxist rebels for a ceasefire but rejected their demand for independent monitoring, putting the plan to stop hostilities on uncertain ground hours before it was to start. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387224/Colombias-FARC-declares-ceasefire Fri, 19 Dec 2014 18:59:00 +0000 live Union urges price 'crisis' action http://www.upstreamonline.com/live/1387223/Union-urges-price-crisis-action A UK offshore trade union has urged politicians to adopt a "crisis management" approach in the face of the oil price slump to protect offshore jobs, prolong the life of key North Sea facilities and maintain safety. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387223/Union-urges-price-crisis-action Fri, 19 Dec 2014 18:25:10 +0000 live OK rig fire kills two, injures two http://www.upstreamonline.com/live/1387221/OK-rig-fire-kills-two-injures-two Authorities in the US state of Oklahoma said two workers were killed and another two critically injured in a rig explosion early Friday morning in the state's south-east region. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387221/OK-rig-fire-kills-two-injures-two Fri, 19 Dec 2014 18:03:51 +0000 live Chesapeake in stealth land grab http://www.upstreamonline.com/live/1387220/Chesapeake-in-stealth-land-grab Chesapeake Energy has used a leasing company to quietly establish a sizeable acreage position in East Texas where operators are exploring a variety of stacked producing formations including the Goodland Lime tight oil play and has permitted its first stealth wildcat in the play. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387220/Chesapeake-in-stealth-land-grab Fri, 19 Dec 2014 17:28:25 +0000 live Oil prices regain some ground http://www.upstreamonline.com/live/1387145/Oil-prices-regain-some-ground Brent crude oil rose above $60 a barrel on Friday, rallying from near a five-and-a-half year low as investors squared books ahead of the year-end festive break after six months of falling prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1387145/Oil-prices-regain-some-ground Fri, 19 Dec 2014 16:25:00 +0000 live North Energy secures drilling cash http://www.upstreamonline.com/live/1387206/North-Energy-secures-drilling-cash North Energy has secured the renewal of a Nkr950 million ($129.4 million) exploration loan facility to gain the necessary financing for upcoming drilling work over the next two years. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387206/North-Energy-secures-drilling-cash Fri, 19 Dec 2014 15:34:11 +0000 live Rem delays vessel delivery http://www.upstreamonline.com/live/1387204/Rem-delays-vessel-delivery Oslo-listed shipowner Rem Offshore has decided to postpone delivery of a newbuild offshore construction vessel for a year due to a market downturn amid falling oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387204/Rem-delays-vessel-delivery Fri, 19 Dec 2014 15:01:53 +0000 live Norway round postponed http://www.upstreamonline.com/live/1387197/Norway-round-postponed The keenly-awaited launch of Norway’s 23rd licensing round looks has been delayed until next year amid environmental objections to the inclusion in the tender of some blocks in the newly opened south-east Barents Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387197/Norway-round-postponed Fri, 19 Dec 2014 14:15:18 +0000 live Transocean to scrap more rigs http://www.upstreamonline.com/live/1387192/Transocean-to-scrap-more-rigs Transocean is set to incur a fourth-quarter charge of up to $140 million after deciding to scrap another seven rigs due to a market slump that has hit employment and dayrates. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387192/Transocean-to-scrap-more-rigs Fri, 19 Dec 2014 13:39:08 +0000 live Canacol buys Colombia blocks from OGPars http://www.upstreamonline.com/live/1387182/Canacol-buys-Colombia-blocks-from-OGPars Canadian independent Canacol Energy has acquired two wholly-owned exploration licences onshore Colombia from bankrupt Brazilian operator OGPars. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387182/Canacol-buys-Colombia-blocks-from-OGPars Fri, 19 Dec 2014 13:07:41 +0000 live UK's Huntington comes back online http://www.upstreamonline.com/live/1387179/UKs-Huntington-comes-back-online Huntington partner Noreco said on Friday that the UK North Sea field is now back on stream but producing at reduced rates. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387179/UKs-Huntington-comes-back-online Fri, 19 Dec 2014 12:53:48 +0000 live Iona Energy 'at risk of debt trouble' http://www.upstreamonline.com/live/1387178/Iona-Energy-at-risk-of-debt-trouble North Sea-focused Iona Energy has warned it may unable to repay bondholders because of restricted cash flows caused by production outages and the oil price slump. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387178/Iona-Energy-at-risk-of-debt-trouble Fri, 19 Dec 2014 12:38:23 +0000 live FMC wins $393m East Hub prize http://www.upstreamonline.com/live/1387176/FMC-wins-393m-East-Hub-prize Houston’s FMC Technologies has landed a $393 million contract from Italian oil major Eni to provide subsea systems for the Italian oil major’s East Hub project off Angola. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387176/FMC-wins-393m-East-Hub-prize Fri, 19 Dec 2014 11:56:59 +0000 live Wartsila to start Tornio LNG project http://www.upstreamonline.com/live/1387171/Wartsila-to-start-Tornio-LNG-project Finland’s Wartsila is to begin construction next month on a small-scale liquefied natural gas receiving terminal in Tornio, Finland, after gaining a final green light from operator Manga LNG Oy to proceed with the €100 million facility. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387171/Wartsila-to-start-Tornio-LNG-project Fri, 19 Dec 2014 11:34:29 +0000 live Wintershall nod for Imsa http://www.upstreamonline.com/live/1387170/Wintershall-nod-for-Imsa Wintershall has secured a permit from the authorities to drill a wildcat targeting the Imsa prospect in the Norwegian Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387170/Wintershall-nod-for-Imsa Fri, 19 Dec 2014 11:17:44 +0000 live Atlas off the map for RWE Dea http://www.upstreamonline.com/live/1387164/Atlas-off-the-map-for-RWE-Dea German explorer RWE Dea has failed to make a discovery with its Atlas wildcat in the Norwegian North Sea. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387164/Atlas-off-the-map-for-RWE-Dea Fri, 19 Dec 2014 10:56:55 +0000 live PGS predicts profits drop http://www.upstreamonline.com/live/1387162/PGS-predicts-profits-drop Norwegian seismic contractor Petroleum Geo-Services (PGS) faces lower-than-expected earnings this year and a further drop in profits in 2015 as oil companies cut exploration spending amid falling oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387162/PGS-predicts-profits-drop Fri, 19 Dec 2014 10:51:51 +0000 live Sverdrup PDO stirs debate over Utsira High issue http://www.upstreamonline.com/live/1387160/Sverdrup-PDO-stirs-debate-over-Utsira-High-issue Statoil is understood to be preparing an official plan for development and operation (PDO) of the giant Johan Sverdrup project off Norway that does not include an area-wide electrification solution for the Utsira High region by 2022. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387160/Sverdrup-PDO-stirs-debate-over-Utsira-High-issue Fri, 19 Dec 2014 10:41:18 +0000 live BP told it must shut down Valhall facility http://www.upstreamonline.com/live/1387159/BP-told-it-must-shut-down-Valhall-facility British supermajor BP is to be forced to shut down its living quarters platform on the Vahall field in the North Sea after Norwegian safety authorities refused to extend its consent for the 34-year-old accommodation facility. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387159/BP-told-it-must-shut-down-Valhall-facility Fri, 19 Dec 2014 10:22:14 +0000 live Bidding back on at ONGC's Bassein http://www.upstreamonline.com/live/1387150/Bidding-back-on-at-ONGCs-Bassein Indian state player Oil and Natural Gas Corporation has ended a six-month hiatus by issuing a re-tender for its $500 million Bassein development project off the west coast of India. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387150/Bidding-back-on-at-ONGCs-Bassein Fri, 19 Dec 2014 09:42:16 +0000 live Mariner wind in Schlumberger sails http://www.upstreamonline.com/live/1387149/Mariner-wind-in-Schlumberger-sails Schlumberger has been awarded a contract to provide drilling and well services for Statoil’s under-development Mariner heavy oil field off the UK. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387149/Mariner-wind-in-Schlumberger-sails Fri, 19 Dec 2014 08:53:51 +0000 live Krafla North strike for Statoil http://www.upstreamonline.com/live/1387147/Krafla-North-strike-for-Statoil Statoil has made a minor oil discovery with a wildcat drilled at the Krafla North prospect in the northern North Sea off Norway, according to partner Det Norske. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387147/Krafla-North-strike-for-Statoil Fri, 19 Dec 2014 08:19:16 +0000 live Tower settles Namibia cost dispute http://www.upstreamonline.com/live/1387146/Tower-settles-Namibia-cost-dispute London-listed Tower Resources has settled a cost dispute with operator Repsol over the drilling of the unsuccessful Welwitschia well, off Namibia, earlier this year. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1387146/Tower-settles-Namibia-cost-dispute Fri, 19 Dec 2014 07:41:43 +0000 live Sumatec reviewing Kazakh plans http://www.upstreamonline.com/live/1387144/Sumatec-reviewing-Kazakh-plans Malaysia-based Sumatec Resources is reviewing its onshore production drilling plans for the Rakushechnoye field, also known as the Shelley field, in Western Kazahstan. http://www.upstreamonline.com/live/1387144/Sumatec-reviewing-Kazakh-plans Fri, 19 Dec 2014 07:03:36 +0000 live Players short-listed for NT pipeline http://www.upstreamonline.com/live/1387140/Players-short-listed-for-NT-pipeline Companies vying for pipeline linking the Northern Territory to Australia's east coast gas market revealed Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1387140/Players-short-listed-for-NT-pipeline Fri, 19 Dec 2014 05:22:32 +0000 live AWE drops La Bella interest http://www.upstreamonline.com/live/1387139/AWE-drops-La-Bella-interest Australian company AWE has elected not to proceed with its farm-in of Vic/P67, off the south-east coast of Australia. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1387139/AWE-drops-La-Bella-interest Fri, 19 Dec 2014 04:51:59 +0000 live Lion to team up with duo in Indonesia exploration http://www.upstreamonline.com/live/1387138/Lion-to-team-up-with-duo-in-Indonesia-exploration Australia's Lion Energy has teamed up with New Zealand Oil & Gas (NZOG) and Bukit Energy to explore the Bohorok production sharing contract onshore North Sumatra, Indonesia. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1387138/Lion-to-team-up-with-duo-in-Indonesia-exploration Fri, 19 Dec 2014 04:42:51 +0000 live Karoon appoints new chairman http://www.upstreamonline.com/live/1387133/Karoon-appoints-new-chairman Karoon Gas Australia has appointed a former executive of mining giant Rio Tinto as its new non-executive chairman. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1387133/Karoon-appoints-new-chairman Fri, 19 Dec 2014 03:43:15 +0000 live NZOG in share buy-back http://www.upstreamonline.com/live/1387130/NZOG-in-share-buy-back New Zealand Oil & Gas' (NZOG) shareholders have today voted in support of a NZ$60 million (US$46.7 million) buy-back of shares. (Russell Searancke) http://www.upstreamonline.com/live/1387130/NZOG-in-share-buy-back Fri, 19 Dec 2014 01:43:33 +0000 live Cheniere, GE in $1bn service deal http://www.upstreamonline.com/live/1387124/Cheniere-GE-in-1bn-service-deal Cheniere and US conglomerate GE have signed a $1 billion, 20-year deal to provide services and parts for the first of its kind US Sabine Pass export terminal in Louisiana. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387124/Cheniere-GE-in-1bn-service-deal Thu, 18 Dec 2014 23:10:57 +0000 live Brent falls back below $60 http://www.upstreamonline.com/live/1387122/Brent-falls-back-below-60 Global crude oil prices slumped anew on Thursday, a day after a short-covering rally, as traders placed fresh bets the market would resume a six-month rout on worries about a supply glut. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387122/Brent-falls-back-below-60 Thu, 18 Dec 2014 22:37:36 +0000 live Brazil panel targets 52 in graft probe http://www.upstreamonline.com/live/1387116/Brazil-panel-targets-52-in-graft-probe A congressional committee investigating a mushrooming corruption scandal at Brazil's state-run Petrobras recommended on Thursday that prosecutors bring charges against 52 people for alleged money laundering and racketeering. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387116/Brazil-panel-targets-52-in-graft-probe Thu, 18 Dec 2014 22:09:54 +0000 live Bolivia agrees to pay PAE $357m http://www.upstreamonline.com/live/1387114/Bolivia-agrees-to-pay-PAE-357m Bolivia signed an agreement on Thursday to pay Argentina-based Pan American Energy $357 million in compensation for the 2009 nationalization of a subsidiary, a senior government official said. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387114/Bolivia-agrees-to-pay-PAE-357m Thu, 18 Dec 2014 21:47:21 +0000 live ExxonMobil reports second Argentina find http://www.upstreamonline.com/live/1387111/ExxonMobil-reports-second-Argentina-find US supermajor ExxonMobil has reported its second operated discovery this year in Argentina's Vaca Muerta shale, what it says is one of the best wells in the play so far. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387111/ExxonMobil-reports-second-Argentina-find Thu, 18 Dec 2014 21:07:28 +0000 live New BOEM chief announced http://www.upstreamonline.com/live/1387097/New-BOEM-chief-announced US Interior Secretary Sally Jewell has appointed a new director of the US Bureau of Ocean Energy Management, the agency that oversees lease sales and development planning for US waters and federal lands. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387097/New-BOEM-chief-announced Thu, 18 Dec 2014 20:27:17 +0000 live Eni farms into Portugal deep-water http://www.upstreamonline.com/live/1387094/Eni-farms-into-Portugal-deep-water Italian operator Eni has struck a deal with Portugal's Galp Energia to farm into three blocks off the Iberian country after Petrobras dropped out of a previous partnership last year. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387094/Eni-farms-into-Portugal-deep-water Thu, 18 Dec 2014 20:07:02 +0000 live BASF, Gazprom scrap asset swap http://www.upstreamonline.com/live/1387093/BASF-Gazprom-scrap-asset-swap Germany's BASF and Russia's Gazprom have called off an asset swap that could have led to the development of two blocks an the Urnegoi natural gas and condensate field in Western Siberia. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1387093/BASF-Gazprom-scrap-asset-swap Thu, 18 Dec 2014 18:54:27 +0000 live Comstock swaps gas for oil in 2015 http://www.upstreamonline.com/live/1387092/Comstock-swaps-gas-for-oil-in-2015 Comstock Resources is moving its rigs from oily plays like the Eagle Ford and Tuscaloosa Marine shales back into the dry gas-producing Haynesville shale in response to low oil prices. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1387092/Comstock-swaps-gas-for-oil-in-2015 Thu, 18 Dec 2014 18:50:37 +0000 live EDP Energias signs up at Corpus Christi LNG http://www.upstreamonline.com/live/1387086/EDP-Energias-signs-up-at-Corpus-Christi-LNG Portuguese utility EDP Energias has signed up for 770,000 tonnes of liquefied natural gas from Cheniere Energy’s Corpus Christi liquefaction and export project in Texas. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387086/EDP-Energias-signs-up-at-Corpus-Christi-LNG Thu, 18 Dec 2014 16:20:49 +0000 live Enbridge hit by pipeline leak http://www.upstreamonline.com/live/1387084/Enbridge-hit-by-pipeline-leak Enbridge is reporting a pipeline leak of at least 1350 barrels of oil from its terminal in Saskatchewan. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387084/Enbridge-hit-by-pipeline-leak Thu, 18 Dec 2014 15:44:02 +0000 live Life extension for Oseberg satellite http://www.upstreamonline.com/live/1387077/Life-extension-for-Oseberg-satellite Statoil has been granted consent by Norway’s safety agency to use subsea infrastructure at the Oseberg West Flank field in the North Sea beyond its intended lifetime. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387077/Life-extension-for-Oseberg-satellite Thu, 18 Dec 2014 15:20:41 +0000 live Gazelle 'still set for sanction in 2015' http://www.upstreamonline.com/live/1387070/Gazelle-still-set-for-sanction-in-2015 The partners developing the Gazelle gas field off the Ivory Coast say they remain on course for a final investment decision in the first half of next year after gaining an exclusive exploitation authorisation from the country’s president Alassane Ouattara. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387070/Gazelle-still-set-for-sanction-in-2015 Thu, 18 Dec 2014 14:57:53 +0000 live CIMC Raffles set for 'jack-up deal' http://www.upstreamonline.com/live/1387067/CIMC-Raffles-set-for-jack-up-deal Chinese yard CIMC Raffles is expected to sign a deal soon to build a jack-up drilling rig for China’s second largest oil company, Sinopec, for employment outside Chinese waters. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1387067/CIMC-Raffles-set-for-jack-up-deal Thu, 18 Dec 2014 14:16:53 +0000 live Subsea 7 job cuts 'forced by Norway lull' http://www.upstreamonline.com/live/1387064/Subsea-7-job-cuts-forced-by-Norway-lull Subsea 7’s move to cut between 100 and 150 jobs in Norway came as a result of the lack of new field development projects in the country, a spokesperson has said. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1387064/Subsea-7-job-cuts-forced-by-Norway-lull Thu, 18 Dec 2014 13:02:31 +0000 live UK oil output slumps in Q3 http://www.upstreamonline.com/live/1386941/UK-oil-output-slumps-in-Q3 UK oil production continued its multi-year decline to fall 10.9% year-on-year in the third quarter, while gas output rose 3.6% over the same timeframe thanks to the start-up of ConocoPhillips’ Jasmine and RWE’s Breagh fields, official statistics showed. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386941/UK-oil-output-slumps-in-Q3 Thu, 18 Dec 2014 11:24:42 +0000 live Brent rallies amid upstream spending cuts http://www.upstreamonline.com/live/1386920/Brent-rallies-amid-upstream-spending-cuts Brent crude jumped 2% to above $62 a barrel on Thursday, as some traders bet a six-month price rout could be ending as more energy firms cut investment budgets. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386920/Brent-rallies-amid-upstream-spending-cuts Thu, 18 Dec 2014 11:04:00 +0000 live Maria in resource leap http://www.upstreamonline.com/live/1386940/Maria-in-resource-leap Wintershall has increased its recoverable resource estimate for its Maria field in the Norwegian Sea by nearly a third based on the results of technical studies and modeling work. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386940/Maria-in-resource-leap Thu, 18 Dec 2014 11:00:42 +0000 live Ocean Yield in vessel sale http://www.upstreamonline.com/live/1386937/Ocean-Yield-in-vessel-sale Oslo-listed offshore vessel owner Ocean Yield has sold its seismic vessel Geco Triton to charterer WesternGeco. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386937/Ocean-Yield-in-vessel-sale Thu, 18 Dec 2014 10:28:15 +0000 live Lundin gets Zulu safety nod http://www.upstreamonline.com/live/1386934/Lundin-gets-Zulu-safety-nod Lundin Petroleum has been granted final safety clearance to drill a wildcat at the Zulu prospect to the north-east of the giant Johan Sverdrup find in the North Sea off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386934/Lundin-gets-Zulu-safety-nod Thu, 18 Dec 2014 10:07:56 +0000 live Lamprell delivers jack-up Shuwehat http://www.upstreamonline.com/live/1386930/Lamprell-delivers-jack-up-Shuwehat London-listed rig builder Lamprell has delivered jack-up rig 'Shuwehat' to Abu Dhabi-based National Drilling Company (NDC), the fifth such drilling unit to be delivered to the Middle-East player. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386930/Lamprell-delivers-jack-up-Shuwehat Thu, 18 Dec 2014 09:58:27 +0000 live Knarr field start-up 'delayed' http://www.upstreamonline.com/live/1386929/Knarr-field-start-up-delayed Start-up of BG Group’s Knarr field off Norway has apparently been further delayed into 2015 as commissioning of a newbuild floating production, storage and offloading vessel has been hit by weather issues. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386929/Knarr-field-start-up-delayed Thu, 18 Dec 2014 09:45:42 +0000 live Damen wins Petrojarl 1 upgrade http://www.upstreamonline.com/live/1386928/Damen-wins-Petrojarl-1-upgrade Dutch builder Damen Shipyards has landed a lucrative contract for extensive upgrades to Teekay Offshore Partners’ Petrojarl 1 floating production, storage and offloading vessel for work off Brazil. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386928/Damen-wins-Petrojarl-1-upgrade Thu, 18 Dec 2014 09:37:10 +0000 live Subsea 7 switches to two global units http://www.upstreamonline.com/live/1386927/Subsea-7-switches-to-two-global-units Oslo-listed Subsea 7 is reorganising its divisions into a less-costly, more strategically-focused model that will see a new executive vice president added to the team. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386927/Subsea-7-switches-to-two-global-units Thu, 18 Dec 2014 09:28:50 +0000 live Ruvuma boost for Aminex http://www.upstreamonline.com/live/1386926/Ruvuma-boost-for-Aminex Aminex has raised the gas resource estimate by more than a third at its Ruvuma production sharing contract area onshore Tanzania after identifying a new prospect from 2D seismic. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386926/Ruvuma-boost-for-Aminex Thu, 18 Dec 2014 08:40:33 +0000 live PPL makes fifth discovery http://www.upstreamonline.com/live/1386925/PPL-makes-fifth-discovery State-run Pakistan Petroleum Ltd (PPL) has announced its fifth gas discovery at the Gambat South exploration block, located in the Sanghar district of the Sindh province. (Nishant Ugal) http://www.upstreamonline.com/live/1386925/PPL-makes-fifth-discovery Thu, 18 Dec 2014 08:09:58 +0000 live Caza flows in New Mexico http://www.upstreamonline.com/live/1386924/Caza-flows-in-New-Mexico London-listed Caza Oil & Gas has started producing from one of its non-operated wells at Marathon Road property in Lea County, New Mexico. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386924/Caza-flows-in-New-Mexico Thu, 18 Dec 2014 08:05:03 +0000 live Rose green lit for Utah shale well http://www.upstreamonline.com/live/1386923/Rose-green-lit-for-Utah-shale-well London-listed Rose Petroleum has been given approval to drill a shale well in the Uinta basin in the US state of Utah. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386923/Rose-green-lit-for-Utah-shale-well Thu, 18 Dec 2014 07:49:29 +0000 live Linc spuds second Arckaringa well http://www.upstreamonline.com/live/1386922/Linc-spuds-second-Arckaringa-well Australia’s Linc Energy has spudded the second well in its current campaign in South Australia's Arckaringa basin. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386922/Linc-spuds-second-Arckaringa-well Thu, 18 Dec 2014 07:17:08 +0000 live GSPC in Deen Dayal price setback http://www.upstreamonline.com/live/1386921/GSPC-in-Deen-Dayal-price-setback India's Ministry of Petroleum & Natural Gas has rejected Gujarat State Petroleum Corporation's (GSPC's) demand for a higher gas price for the envisaged gas production from its Deen Dayal West (DDW) offshore gas field, in the Krishna Godavari basin. (Nishant Ugal) http://www.upstreamonline.com/live/1386921/GSPC-in-Deen-Dayal-price-setback Thu, 18 Dec 2014 06:48:11 +0000 live Evoworld preparing second Neon bid http://www.upstreamonline.com/live/1386919/Evoworld-preparing-second-Neon-bid Australia's Neon Energy has received a second takeover offer from Perth-based Evoworld, but has used its power to postpone a general meeting called for by the latter.. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386919/Evoworld-preparing-second-Neon-bid Thu, 18 Dec 2014 05:30:26 +0000 live Empire hits out at fracking ban http://www.upstreamonline.com/live/1386917/Empire-hits-out-at-fracking-ban Australia-listed Empire Energy executive chairman Bruce McLeod has hit back at New York State Governor Andrew Cuomo for a decision to ban hydraulic fracturing. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386917/Empire-hits-out-at-fracking-ban Thu, 18 Dec 2014 03:12:56 +0000 live Bomb attack shuts Trasadino pipeline http://www.upstreamonline.com/live/1386918/Bomb-attack-shuts-Trasadino-pipeline The Trasandino pipeline in southern Colombia has been suspended after a bomb attack by leftist guerrillas that caused a significant oil spill on the damaged stretch, state-owned oil company Ecopetrol said. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386918/Bomb-attack-shuts-Trasadino-pipeline Thu, 18 Dec 2014 03:06:19 +0000 live Niko hires financial advisor http://www.upstreamonline.com/live/1386916/Niko-hires-financial-advisor Troubled Canadian independent Niko Resources has hired a financial advisor to help it shape a strategy for its future survival. (Russell Searancke) http://www.upstreamonline.com/live/1386916/Niko-hires-financial-advisor Thu, 18 Dec 2014 01:32:03 +0000 live Woodside increases Canadian footprint http://www.upstreamonline.com/live/1386915/Woodside-increases-Canadian-footprint Australia’s Woodside Petroleum has signed an agreement with supermajor BP to farm into offshore blocks in the Scotian basin in Canada. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386915/Woodside-increases-Canadian-footprint Thu, 18 Dec 2014 01:26:57 +0000 live Apache to plug Louisiana dry hole http://www.upstreamonline.com/live/1386914/Apache-to-plug-Louisiana-dry-hole US independent Apache has come up dry on the eastern flank of the Lake Charles field, onshore Louisiana. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1386914/Apache-to-plug-Louisiana-dry-hole Thu, 18 Dec 2014 01:05:16 +0000 live Rosetta 'flexible' on 2015 spending http://www.upstreamonline.com/live/1386911/Rosetta-flexible-on-2015-spending Rosetta Resources unveiled a "flexible" capital expenditure plan for 2015 that could see the US independent spend anywhere between $700 million and $900 million. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386911/Rosetta-flexible-on-2015-spending Wed, 17 Dec 2014 23:45:26 +0000 live Teekay lands Atlanta FPSO contract http://www.upstreamonline.com/live/1386909/Teekay-lands-Atlanta-FPSO-contract Partners at Brazil's Atlanta heavy-oil field have named Teekay as the winner of a contract to provide its Petrojarl I floating production, storage and offloading unit to operate in the development. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1386909/Teekay-lands-Atlanta-FPSO-contract Wed, 17 Dec 2014 23:25:33 +0000 live Marathon slashes capex for 2015 http://www.upstreamonline.com/live/1386908/Marathon-slashes-capex-for-2015 US independent Marathon Oil is slashing its 2015 capital expenditure budget by 20% year-on-year, the latest operator to cut spending amid deteriorating commodity prices. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386908/Marathon-slashes-capex-for-2015 Wed, 17 Dec 2014 23:00:16 +0000 live Papa leaves EOG board http://www.upstreamonline.com/live/1386907/Papa-leaves-EOG-board Mark Papa is leaving his position on the board of EOG Resources effective immediately due to personal reasons, ending his official involvement with the company that he helped guide to a leading position in the US tight oil plays. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1386907/Papa-leaves-EOG-board Wed, 17 Dec 2014 22:44:50 +0000 live Neuquen energy minister quits http://www.upstreamonline.com/live/1386904/Neuquen-energy-minister-quits The top energy official in Argentina's shale-rich Neuquen province has resigned and a replacement appointed, media reports said. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1386904/Neuquen-energy-minister-quits Wed, 17 Dec 2014 22:16:03 +0000 live EC rejects oil-sands import veto http://www.upstreamonline.com/live/1386898/EC-rejects-oil-sands-import-veto An attempt by some European politicians to veto the import of oil-sands crude failed on Wednesday after a European Parliament vote, giving a boost to Canada but dismaying green campaigners. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1386898/EC-rejects-oil-sands-import-veto Wed, 17 Dec 2014 21:38:23 +0000 live Crude makes quick about-face http://www.upstreamonline.com/live/1386894/Crude-makes-quick-about-face World oil prices jumped nearly 5% higher on Wednesday as weeks of nearly non-stop selling abruptly reversed course, with traders betting that a failure to break below key chart support levels signalled a long rout may be running out. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386894/Crude-makes-quick-about-face Wed, 17 Dec 2014 21:31:04 +0000 live Energy XXI attracts interest in assets http://www.upstreamonline.com/live/1386891/Energy-XXI-attracts-interest-in-assets US Gulf of Mexico shelf producer Energy XXI has attracted interest from nearly two dozen companies for a package of non-core assets it intends to sell as the Houston-based player looks to high-grade its asset base. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386891/Energy-XXI-attracts-interest-in-assets Wed, 17 Dec 2014 21:06:06 +0000 live New York bans fracking http://www.upstreamonline.com/live/1386888/New-York-bans-fracking The state of New York will permanently ban hydraulic fracturing due to concerns about its impacts on human health, angering industry officials that argued the practice has been found safe by 48 other states in the US. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1386888/New-York-bans-fracking Wed, 17 Dec 2014 20:10:55 +0000 live Husky 'in West White Rose re-think' http://www.upstreamonline.com/live/1386884/Husky-in-West-White-Rose-re-think Husky Energy said on Wednesday it may revisit plans for its West White Rose platform off Newfoundland as the company faces rising project costs and a steep drop in oil prices, according to a report. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1386884/Husky-in-West-White-Rose-re-think Wed, 17 Dec 2014 19:37:33 +0000 live Hercules stacks another rig http://www.upstreamonline.com/live/1386886/Hercules-stacks-another-rig Offshore driller Hercules Offshore is stacking another rig in the US Gulf of Mexico as it tries to weather the storm of a deteriorating jack-up market. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1386886/Hercules-stacks-another-rig Wed, 17 Dec 2014 18:37:48 +0000 live Pacific Rubiales in $320m midstream sale http://www.upstreamonline.com/live/1386880/Pacific-Rubiales-in-320m-midstream-sale Canada-listed producer Pacific Rubiales has struck a $320 million deal with the International Financial Corporation for 43% of its interest a Colombia pipeline and power transmission unit. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1386880/Pacific-Rubiales-in-320m-midstream-sale Wed, 17 Dec 2014 17:45:03 +0000 live Worldview pushes Petroceltic claims http://www.upstreamonline.com/live/1386877/Worldview-pushes-Petroceltic-claims Rebel shareholder Worldview Capital Management has again called for senior bosses at Irish independent Petroceltic International to resign in the wake of recent management share options awards amid what it views as poor performance. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386877/Worldview-pushes-Petroceltic-claims Wed, 17 Dec 2014 17:02:12 +0000 live Senior Petrobras execs may resign on scandal http://www.upstreamonline.com/live/1386876/Senior-Petrobras-execs-may-resign-on-scandal Senior management at Petrobras may have to resign to avoid further delays of the Brazilian state-run oil company's audited third-quarter earnings report, chief executive Maria das Gracas Foster said on Wednesday. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1386876/Senior-Petrobras-execs-may-resign-on-scandal Wed, 17 Dec 2014 17:01:37 +0000 live ExxonMobil gains Ivory Coast blocks http://www.upstreamonline.com/live/1386874/ExxonMobil-gains-Ivory-Coast-blocks US supermajor ExxonMobil has signed up for two new permits off the Ivory Coast in west Africa. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386874/ExxonMobil-gains-Ivory-Coast-blocks Wed, 17 Dec 2014 16:18:09 +0000 live BG 'to ditch' Norway licence http://www.upstreamonline.com/live/1386869/BG-to-ditch-Norway-licence BG Group has reportedly decided to relinquish a Norwegian Sea licence, having come up dry with earlier exploration drilling. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386869/BG-to-ditch-Norway-licence Wed, 17 Dec 2014 15:54:08 +0000 live Maritime cranes boom for Liebherr http://www.upstreamonline.com/live/1386864/Maritime-cranes-boom-for-Liebherr German engineering firm Leibherr Group said that boosted business in its maritime crane division in particular will help to maintain turnover this year despite marked decline in its construction machines and mining businesses. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386864/Maritime-cranes-boom-for-Liebherr Wed, 17 Dec 2014 15:47:39 +0000 live Pair to frack in Western Desert http://www.upstreamonline.com/live/1386861/Pair-to-frack-in-Western-Desert Apache and Shell have inked a deal to tap uncoventional gas in Egypt’s Western Desert that will mark the first use of hydraulic fracturing, or fracking, by the North African country. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386861/Pair-to-frack-in-Western-Desert Wed, 17 Dec 2014 15:40:33 +0000 live Sheridan war chest swells http://www.upstreamonline.com/live/1386857/Sheridan-war-chest-swells Houston-based oil and gas investor Sheridan Production Partners has raised a further $1.5 billion to boost its war chest as it targets acquisitions of US onshore producing assets amid falling oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386857/Sheridan-war-chest-swells Wed, 17 Dec 2014 15:04:12 +0000 live FMC wins $268m Agbami deal http://www.upstreamonline.com/live/1386852/FMC-wins-268m-Agbami-deal Houston’s FMC Technologies has landed a $268 million subsea systems contract from Chevron for the US supermajor’s Agbami deep-water oilfield off Nigeria. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386852/FMC-wins-268m-Agbami-deal Wed, 17 Dec 2014 14:49:16 +0000 live Kurdistan set for 'export boost' http://www.upstreamonline.com/live/1386853/Kurdistan-set-for-export-boost Iraqi crude exports along a pipeline from Kurdistan to the Turkish port of Ceyhan are reportedly set to rise to around 800,000 barrels per day early next year after a recent export pact between the regional and federal governments. Steve.Marshall@upstreamonline.com (Steve Marshall), (News Wires) http://www.upstreamonline.com/live/1386853/Kurdistan-set-for-export-boost Wed, 17 Dec 2014 14:48:51 +0000 live EMGS in Barents sales http://www.upstreamonline.com/live/1386851/EMGS-in-Barents-sales Electromagnetic Geoservices (EMGS) has struck a data licensing agreements for sales from its multi-client library in the Barents Sea off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386851/EMGS-in-Barents-sales Wed, 17 Dec 2014 14:18:31 +0000 live Rumaila partners in output drive http://www.upstreamonline.com/live/1386850/Rumaila-partners-in-output-drive The BP-led partnership developing Iraq’s giant Rumaila oilfield is set to invest $1.7 billion next year in their drive to increase production by 50% at the project to 2.1 million barrels per day by 2020. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386850/Rumaila-partners-in-output-drive Wed, 17 Dec 2014 14:01:52 +0000 live Resources climb at Horse Hill http://www.upstreamonline.com/live/1386845/Resources-climb-at-Horse-Hill Angus Energy is looking at a potential commercial development of its Horse Hill-1 oil discovery in the Weald basin of southern England after well data analysis indicated significantly higher reserves, according to a partner. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386845/Resources-climb-at-Horse-Hill Wed, 17 Dec 2014 13:47:29 +0000 live Brent holds under $60 http://www.upstreamonline.com/live/1386816/Brent-holds-under-60 Brent crude held below $60 a barrel on Wednesday, near five-and-a-half year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. (News Wires) http://www.upstreamonline.com/live/1386816/Brent-holds-under-60 Wed, 17 Dec 2014 12:00:00 +0000 live State to step into Maria dispute http://www.upstreamonline.com/live/1386837/State-to-step-into-Maria-dispute Wintershall has called on the government to intervene amid an apparent impasse in complicated talks with Statoil and other licensees for a three-way tie-back of its Maria field in the Norwegian Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386837/State-to-step-into-Maria-dispute Wed, 17 Dec 2014 11:21:07 +0000 live Eagle Energy joins Spyglass in $100m buy http://www.upstreamonline.com/live/1386825/Eagle-Energy-joins-Spyglass-in-100m-buy Canada's Spyglass Resources has sold a 50% non-operating stake in its producing properties in the Dixonville Montney area of north-central Alberta in western Canada to fellow Calgary company Eagle Energy Trust for $100 million. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1386825/Eagle-Energy-joins-Spyglass-in-100m-buy Wed, 17 Dec 2014 09:47:31 +0000 live Seismic haul for SeaBird http://www.upstreamonline.com/live/1386824/Seismic-haul-for-SeaBird SeaBird Exploration is set to deploy one of its seismic vessels on source work in South East Asia under a newly awarded deal worth up to $4 million for an unnamed client. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386824/Seismic-haul-for-SeaBird Wed, 17 Dec 2014 09:35:10 +0000 live Vard yard secures IMR newbuild http://www.upstreamonline.com/live/1386823/Vard-yard-secures-IMR-newbuild The Vard Vung Tau yard in Vietnam has won a Nkr520 million ($69 million) newbuild contract for a subsea construction vessel with Farstad Shipping. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386823/Vard-yard-secures-IMR-newbuild Wed, 17 Dec 2014 08:28:54 +0000 live Solo, Aminex deal moves forward http://www.upstreamonline.com/live/1386821/Solo-Aminex-deal-moves-forward London-listed Solo Oil and Aminex are set to go through with a sale of a 13% interest in the Kiliwani North development licence for $7 million. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1386821/Solo-Aminex-deal-moves-forward Wed, 17 Dec 2014 07:58:44 +0000 live Subsea 7 bags Stampede job http://www.upstreamonline.com/live/1386820/Subsea-7-bags-Stampede-job Subsea 7 has secured subsea installation work for Hess on the giant Stampede field development project in the deep-water Gulf of Mexico. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1386820/Subsea-7-bags-Stampede-job Wed, 17 Dec 2014 07:53:21 +0000 live